Retainer fee question

[tasja]

If I recieve a retainer fee for three months, do I pay the 2pound something for tax each week?

"2pound something for tax"??

Are you talking about NI or tax?

N.I i assume?..yes you would as its still a wage.

I would have thought you'd pay it regardless of your earnings. Mine is done by direct debit quarterly, it just gets paid direct from the bank. I don't change the amount I pay. I just pay self employed stamp

you don't have to pay Class 2 national insurance if you earn less than the specified amount

2007-2008 tax year less than £4,635
2006-2007 less than £4,465

Its called the Small Earnings Exception (SEE)

CF10 Exemption Form